{"id":111605,"date":"2021-04-08T21:44:08","date_gmt":"2021-04-08T21:44:08","guid":{"rendered":"https:\/\/fin2me.com\/?p=111605"},"modified":"2021-04-08T21:44:08","modified_gmt":"2021-04-08T21:44:08","slug":"imf-sees-uncertainty-around-argentinas-economic-policies-official","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/imf-sees-uncertainty-around-argentinas-economic-policies-official\/","title":{"rendered":"IMF sees uncertainty around Argentina's economic policies -official"},"content":{"rendered":"

NEW YORK (Reuters) -There is still a lot of uncertainty about Argentina\u2019s economic policy path to make the country\u2019s debt sustainable, an official at the International Monetary Fund said on Thursday.<\/p>

FILE PHOTO: Alejandro Werner, Director of the Western Hemisphere Department of the International Monetary Fund (IMF) speaks during the launch of the report “Economic Perspectives-Americas: Frustrated by Uncertainty”, in Bogota, Colombia October 28, 2019. REUTERS\/Luisa Gonzalez\/File Photo<\/figcaption>

\u201cThere\u2019s always at least two legs to any restructuring. One is how you change the terms of your debt contracts, the other one is how you change your policies to make the new debt sustainable. And I think that second leg is where we have a lot of uncertainty,\u201d said Alejandro Werner, the IMF\u2019s head for the Western Hemisphere.<\/p>\n

Argentina and the IMF are in negotiations to replace a failed program signed in 2018 for which the South American country owes the Fund about $45 billion.<\/p>\n

Initially, the fund and the government expected a deal between April and May, but both have dropped any reference to that timeline.<\/p>\n

Investors widely expect a deal will not be reached before legislative elections in late October, and Argentina\u2019s dollar-denominated foreign debt is trading at distressed levels, around 30 cents on the dollar.<\/p>\n

\u201cWe\u2019re working to be ready whenever the government actually wants to finalize it and to accelerate it. I think we\u2019re in a position to do it, but it\u2019s true that, it is obvious that the negotiations have dragged on more than maybe what we thought… to be ready in the first half of this year,\u201d Werner said in an event hosted by S&P Global.<\/p>\n

Negotiations, both sides have said, remain \u201cconstructive\u201d.<\/p>\n

Late last month, economy minister Martin Guzman said \u201cimportant steps\u201d had been taken to advance negotiations days after Vice President Cristina Fernandez said the country lacked sufficient cash to pay back the fund.<\/p>\n

Werner acknowledged the fund sees a split among the Argentine government.<\/p>\n

\u201cThere seems to be significant differences of opinion within President Fernandez\u2019s political allies on in which direction they should go, both policy wise, and also vis-\u00e0-vis the negotiations with the Fund,\u201d he said.<\/p>\n

Argentina\u2019s economy ministry had no comment, a spokesman said.<\/p>\n

Some private creditors with which Argentina struck a restructuring deal last year have complained about the slow progress of talks, the political debate surrounding the deal and lack of a clear economic policy from the government.<\/p>\n

\u201cIn an electoral year, that also now happens to be a period in which the external environment is supportive of the financial accounts for Argentina… there is an interpretation on our side that maybe the government feels that (it) will be much better to undertake this political negotiation after the elections than before,\u201d Werner said.<\/p>\n

Argentina is battling a second wave of COVID-19 infections with record cases in recent days, though the government is looking to avoid blanket lockdowns to protect the nascent economic recovery.<\/p>\n

There are also concerns that already high inflation could jump further despite government hopes of reining in prices, which would hit economic growth.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

NEW YORK (Reuters) -There is still a lot of uncertainty about Argentina\u2019s economic policy path to make the country\u2019s debt sustainable, an official at the […]<\/p>\n","protected":false},"author":3,"featured_media":111604,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nIMF sees uncertainty around Argentina's economic policies -official - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/imf-sees-uncertainty-around-argentinas-economic-policies-official\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IMF sees uncertainty around Argentina's economic policies -official - Fin2me\" \/>\n<meta property=\"og:description\" content=\"NEW YORK (Reuters) -There is still a lot of uncertainty about Argentina\u2019s economic policy path to make the country\u2019s debt sustainable, an official at the [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/markets\/imf-sees-uncertainty-around-argentinas-economic-policies-official\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-08T21:44:08+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/04\/cnewsfotor1229-1.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/markets\/imf-sees-uncertainty-around-argentinas-economic-policies-official\/\",\"url\":\"https:\/\/fin2me.com\/markets\/imf-sees-uncertainty-around-argentinas-economic-policies-official\/\",\"name\":\"IMF sees uncertainty around Argentina's economic policies -official - 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